─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in North Berwick

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, and it is a genuinely practical route for many small companies in North Berwick. If your company meets the relevant size conditions and opts for that regime, the accounts are prepared under FRS 105 rather than a fuller reporting standard, which keeps the financial statements focused on the essentials. Professional preparation helps to ensure your FRS 105 Micro Entity Accounts reflect your actual trading position, are built from properly maintained records, and are presented in line with the disclosure requirements that apply to your circumstances. Whether you are closing your first set of accounts or moving from a different framework, we can review your position and discuss how FRS 105 financial statements would work for your North Berwick business.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

+vat

FRS 105 accounts preparation
Accounting records review
Micro-entity eligibility review
Companies House filing where applicable
Corporation Tax support where included
Director review
FRS 105 accounting support

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Trusted by Micro-Entity Businesses Across the UK

From newly incorporated companies to established owner-managed businesses, our clients trust us to prepare their accounts accurately and handle their annual filing requirements.

      EXCELLENT  
   Based on 300 reviews 
    
 
 
 
   
 
 
       Posted on Google  
   
   Jamie Fletcher 
 
 
 
 Trustindex verifies that the original source of the review is Google. It was a pleasure working with Anum on our accounts. The whole process was swift and effortless, and it was one less thing to worry about. I'd highly recommend them.
  
 
      Posted on Google  
   
   Mansur Liman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Accotax have been our accountants for many years now. We maintained them, because of their professionalism. In the last coiple of years, i have working with Imran, who has been very professional and helpful in guiding us through the whole process explaining and clarifying every aspect of it. Very prompt in responding to questions and patient with us even when we seem to be slow. I really enjoy working with him. Thank you
  
 
      Posted on Google  
   
   Muna Mohamoud 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Imran to anyone looking for a reliable and knowledgeable accountant. He helped me sort out a very complicated backlog of accounts and prepared my overdue tax returns with professionalism and attention to detail. Throughout the process, he was incredibly patient, took the time to answer all of my questions, and explained everything clearly. He guided me through each step and helped rectify issues that had built up over time, making what felt like an overwhelming situation much more manageable. I'm very pleased with the service I've received and truly appreciate his support. If you need help with your accounts or taxes, I would highly recommend Imran.
  
 
      Posted on Google  
   
   Sergey M 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a positive experience with Accotax. The work was completed promptly, my tax return was successfully filed, and I received a refund of overpaid tax. I found the cooperation efficient and helpful. Special thanks to Muhammad Saifullah for his assistance.
  
 
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   Ebba Qureshi 
 
 
 
 Trustindex verifies that the original source of the review is Google. Fabulous team at ACCOTAX - very efficient and good response time . Honest and professional with their work. I would highly recommend them even if you’re a young start up - or a large business they have it covered .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for the smallest companies. In simple terms, it sits alongside the micro-entities regime: if a company qualifies for that regime and chooses to use it, FRS 105 sets out how the financial statements are put together. That generally means a simpler balance sheet, a simpler profit and loss account and a much shorter set of notes than you would see under a larger-company framework. Because FRS 105 Micro Entity Accounts are designed around the micro-entities regime, some of the measurement and disclosure rules differ from those applied under other standards, so the choice of framework does matter. Rather than assuming your company is eligible, it is worth checking the size conditions and any exclusions that apply before deciding how your North Berwick company’s accounts should be prepared.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and decide to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable size conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees during the period. Those conditions are a starting point rather than the whole answer. Other eligibility rules and exclusions can apply, and certain companies are not able to use the micro-entities regime regardless of size, so meeting the thresholds does not automatically mean a company qualifies. North Berwick businesses should also weigh up whether the reduced disclosure that comes with FRS 105 Micro Entity Accounts suits their owners, lenders and other users before choosing the framework.

A company generally needs to meet at least 2 of these 3 conditions.

Business Turnover

Annual Turnover of £1 Million or less. (£632,000 previously)

Balance Sheet

Balance sheet total of £500,000 or less.(£316,000 previously)

Company Size

On an average 10 or less employees (10 or less previously)

─── What We Review

Everything Your Micro-Entity Company Is Required to Get Right

Most compliance problems are not deliberate. They come from a missed deadline, an accounts template that no longer matches FRS 105, or dividends taken without the paperwork to support them. Our review covers each area in turn and reports back in plain English.

FRS 105 Balance Sheet

A statutory balance sheet prepared to the FRS 105 format, using the reduced disclosure the micro-entities regime allows.

Profit & Loss Account

A profit and loss account prepared for your own records and for your Corporation Tax computation, without public filing.

Required Notes & Disclosures

Preparation of the notes and disclosures required for the company's accounts under the applicable reporting requirements.

Corporation Tax Support

Separate Corporation Tax support can be provided where included in the agreed service. The Corporation Tax calculation is governed by tax rules rather than FRS 105.

Companies House Filing

Your FRS 105 accounts filed with Companies House in the correct format, before your accounts filing deadline.

Director Copy Pack

A full signed copy of your accounts and tax return, ready for your bank, mortgage lender or accountant records.

─── How It Works

How Our FRS 105 Preparation Process Works

Share Your Records

Send your bank statements, sales and purchase records, expenses and payroll details through our secure digital platform.

We Prepare Your FRS 105 Accounts

Our accountants confirm you qualify for the micro-entities regime, then prepare your accounts and CT600 from your records.

Review & Approve

We send draft accounts with clear explanations of the figures, and adjust anything before anything is submitted.

We File Where Required

Once approved, we can assist with the relevant Companies House filing and any separately agreed tax submission.

─── WHY CHOOSE US

Why Choose Our FRS 105 Accountants?

We keep micro-entity accounts straightforward, transparent and easy to manage for busy company directors.

FRS 105 Accounts Support

The micro-entities regime is all we do, so your accounts are prepared to the right standard first time.

Paperless Onboarding

Get set up in minutes with a fully digital, secure process — no printing, posting or office visits.

Deadline Management

We track your Companies House and HMRC deadlines and prompt you early so late filing penalties are avoided.

Clear, Transparent Pricing

One transparent fixed fee covers preparation, the tax return and both filings. No hourly billing.

─── WHO WE HELP

FRS 105 Support for Micro-Entities Across the UK

From one-director businesses and freelancers to startups, consultants and online businesses that qualify for the micro-entities regime.

One-Director Companies

Straightforward FRS 105 accounts and Corporation Tax filing for owner-managed limited companies.

Freelancers & Contractors

Accounts and compliance support for contractors trading through a qualifying limited company.

Startups & Small Companies

Practical support for newly incorporated companies filing their first set of micro-entity accounts.

Dormant & Low-Activity Companies

Dormant company accounts and FRS 105 accounts for LLPs that meet the micro-entity thresholds.

Professionally Prepared FRS 105 Micro Entity Accounts with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your underlying financial records — bank transactions, sales and purchase information, payroll details, asset records and any relevant notes on how items should be treated. From there, the accounts are built to reflect your company’s circumstances and the reporting requirements that apply under the micro-entities regime. It is important to separate this from your other obligations: the preparation of financial statements and the subsequent Companies House filing are accounting and company filing tasks, while a Corporation Tax Return (CT600) is a separate submission made to HMRC and is calculated from the figures in your accounts. We prepare the accounts, explain the figures to you, and can support you with the filing process, so you understand what has been submitted and why, without any suggestion of guaranteed outcomes or automatic acceptance.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in North Berwick

If your North Berwick company is considering FRS 105 Micro Entity Accounts, or you simply want to know whether the micro-entities regime is likely to suit you, get in touch and let’s talk it through. Tell us about your company’s structure, your accounting period, the records you keep and what you are trying to achieve, and we can help you assess whether FRS 105 is the right framework for your circumstances and what would be involved in preparing the accounts. Clear, transparent pricing and a straightforward explanation of each step are part of how we work with local companies. Share your details and we will arrange a conversation about your FRS 105 Micro Entity Accounts requirements.

─── FAQs

FRS 105 Accounts Preparation FAQs

Still unsure where you stand? Reach out to our UK team at info@microentityaccounts.co.uk and we will review your filing history with you.

What is FRS 105?

FRS 105 is the UK financial reporting standard that applies to companies using the micro-entities regime. It is a reduced-disclosure framework, so the financial statements produced under it are shorter and simpler than those prepared under larger-company standards. It covers how the accounts are presented and measured, and it is chosen at the point the accounts are prepared for the relevant accounting period.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of these 3 conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those size conditions alone is not always enough, because other rules and exclusions can affect eligibility, so the position should be checked for your specific company.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available framework, not an automatic one. A qualifying company can choose to apply the micro-entities regime and therefore prepare FRS 105 Micro Entity Accounts, or it can apply a different reporting standard if that better suits its circumstances — for example where owners, lenders or other users need fuller information. The choice is made when the accounts are prepared, and it is worth considering the wider implications before deciding.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 102 is the general framework used by a much wider range of businesses, while FRS 105 is the micro-entities standard with simpler presentation and fewer disclosure requirements. Some measurement rules also differ between the two, so moving between them can affect the figures reported and the notes provided. The right choice depends on eligibility and on what the company and its users need from the accounts.

Do FRS 105 accounts need to be filed with Companies House?

Where a company is required to prepare and file annual accounts, the accounts prepared under FRS 105 are generally the ones submitted to Companies House for that period. Filing is an administrative step carried out through the Companies House process, as distinct from tax reporting. We can help prepare the accounts and support you through the filing, but it is worth remembering that Companies House and HMRC do not approve, endorse or regulate the accounts we prepare.

Is a Corporation Tax Return (CT600) separate from FRS 105 accounts?

Yes. FRS 105 Micro Entity Accounts relate to the accounting and financial reporting framework and to the numbers reported in your financial statements. A CT600 is a separate Corporation Tax filing made to HMRC, and it is based on the company's taxable profits rather than being a copy of the accounts. Preparing one does not automatically deal with the other, so both should be considered as part of your company's filing obligations for the period.

Can a new limited company use FRS 105?

A newly incorporated company may well qualify for the micro-entities regime, but eligibility is not automatic simply because the company is new or small. The size conditions and any relevant exclusions still need to be considered, along with whether applying the micro-entities regime makes sense for the business and the people who will rely on the accounts. It is worth discussing the framework early so the first set of accounts is prepared on a consistent basis.

What information is needed to prepare FRS 105 accounts?

We normally need a complete picture of the company's transactions and balances for the accounting period. In practice that usually means bank and credit card records, sales and purchase information, payroll details, loan and hire purchase agreements, fixed asset records and closing stock or work-in-progress details where relevant. It also helps to know your accounting period dates, the previous year's accounts and any changes in the business during the year, so the figures can be prepared accurately.